Reliance Capital – Bottoming Out. Can surprise on upside.

For the last few weeks have been focusing on a lot of stocks and sectors which we have been avoiding for the last many years.

The sectors being #Infrastructure , #Real Estate and old heroes.

So names like DLF , Unitech, GVK Power, HCC, Gammon and so on look interesting for a punt. But luckily we took the bet early and most of them are up 15-20% already. Had mentioned about Unitech and GVK Power in this post on Dow Jones and Nifty few days back. Do remember these are high risk stocks and can drop 10-15% for no reason.


Also tweeting about the same. Another stock in the similar segment is Reliance Capital and Reliance Infra ( heroes of 2007 bull market )


As we look at the chart below Reliance Capital has made a short term bottom and a confirmation of breakout was above the green trendline at 475.


The below chart was sent to Technical Traders Club 


reliance Capital


The stock is now trading at 490 levels. Any dips to 480 will be a buying opportunity with the same stoploss.


Disclosure : Recommended at 472-475 levels.


Texmaco Rail has also given a good move today.



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